Is Menlo Park, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Menlo Park is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Menlo Park has remained a Seller's Market.

Key Takeaway

Menlo Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Menlo Park, CA cost?

Median Sold Price

$2,392,500

$1,445/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

-$103,125(-4.1%)

Key Takeaway

Homes in Menlo Park have sold for 4.1% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $835K-
N/A
2 $1.4M$1.4M
+7.0%
3 $2.2M$2.1M
-3.7%
4 $3.6M$3.9M
+6.2%
5+ $5.8M$5.0M
-13.7%

Median Sold Price Compared To Nearby Cities

Redwood City
+7.2%
Palo Alto
+3.5%
Atherton
+1.3%
East Palo Alto
-2.5%
Menlo Park
-4.1%

How many homes are available in Menlo Park, CA?

Number of Homes For Sale

Oct 2022Nov 2022%
5649-12.5%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 01
+100.0%
2 1613
-18.8%
3 2118
-14.3%
4 1414
0.0%
5+ 53
-40.0%

Number of Homes Sold

Oct 2022Nov 2022%
1714-17.6%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Menlo Park, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
21 Days28 Days+33.9%

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Menlo Park are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Menlo Park, CA

Number of homes for sale in Menlo Park, CA real estate market have reached 49. Between October 2022 and November 2022, Menlo Park, CA real estate market has seen decrease in the number of listings by 12.5%. The median list price of listings available in November 2022 was $2,392,500, while the average time on the real estate market was 28 days. This housing market listing prices have changed between October 2022 and November 2022: prices of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties increased by 7%, the cost of 3 bedrooms properties went down by 3.7%, 4 bedrooms properties became 6.2% more expensive, 5 bedrooms properties became 13.7% more cheaper. Volume of homes for sale changed: the quantity of 1 bedroom homes went up by 100%, the quantity of 2 bedrooms homes went down by 18.8%, 3 bedrooms homes became 14.3% less available, the quantity of 4 bedrooms homes have not changed, 5 bedrooms homes became 40% less available. While more than 3 listings in Menlo Park, CA in November 2022 were sold above asking price, there were more than 3 listings sold at asking price, and more than 7 were sold below.

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